Core Points - Abpro Corporation is set to merge with Atlantic Coastal Acquisition Corp. II, with an implied pre-money equity valuation of $500 million for Abpro [2][3] - The combined entity will retain the name "Abpro Corporation" and will list on Nasdaq under the ticker symbol "ABP" [2] - The business combination is expected to close in the first half of 2024, pending shareholder approvals and customary closing conditions [2] Company Overview - Abpro Corporation is a biotechnology firm focused on developing next-generation antibody therapies for severe diseases [7] - The company utilizes proprietary platforms, DiversImmune® and MultiMabTM, to advance its antibody pipeline through collaborations with global pharmaceutical and research institutions [4] - Abpro's lead candidate, ABP-102, targets HER2 and CD3 for treating HER2+ solid tumors, and is being developed in partnership with Celltrion, Inc. [4] - Another lead candidate, ABP-201, is designed to treat wet age-related macular degeneration [4] - The company is also advancing a range of immuno-oncology agents targeting various cancers [4] Leadership and Strategic Vision - Ian Chan, CEO of Abpro, expressed enthusiasm about advancing their pipeline and providing critical therapies [3] - Shahraab Ahmad, CEO of Atlantic Coastal, highlighted the potential of Abpro's drug discovery platform and strategic partnerships [3] - Tony Eisenberg, CSO of Atlantic Coastal, emphasized confidence in Abpro's leadership team and their ability to meet set targets [3]
Abpro Announces Filing of Registration Statement on Form S-4 in Connection with Business Combination Agreement with Atlantic Coastal Acquisition Corp. II